Al-Faw (IQ)
Al-Faw is a major economic trade hub and port city of Iraqistan. It was first established in 2010 when construction and redevelopment of the city began. For five years, construction led by Infrastructure Advancement Corporation and the Everetti Marine Corps Army of Engineers built up the city into an advanced trade port and industrial city. Between 2015 and 2022 the city gained a series of Iraqistani based corporations and companies became a major economic center in the Middle East. Al-Faw is one of three major trade ports and industry cities in Iraqistan. Currently, Al-Faw contains one of two stock exchanges in Iraqistan which leads it as a major economic center for the country. The city skyline is lined with corporate and industrial skyscrapers and large port areas for both docking cargo vessels for trade and Iraqistan's growing shipbuilding industry. The Union of Everett's Northrop Grumman maintains a shipbuilding port in the city, which focuses on Enterprise-class cargo vessels. Infrastructure Al-Faw has undergone a large redevelopment project as part of the Iraqistan Redevelopment Project. The project began in 2008 following the Iraqistan War. Al-Faw was initially targeted for development to become a port city which would aid Iraqistan in economic development. Home grown industries and companies were based in the city and factories, manufacturing and ship ports were built to produce jobs and new forms of exports. Oil was a dying export as many countries began to switch from using oil to clean fuels such as hydrogen, fusion, solar and electric power. Skyscrapers now line the skyline of Al-Faw, housing Iraqistani companies. Finances, stocks, shipbuilding, manufacturing and many other companies set up base in the city throughout 2015 to 2022. Seven major skyscrapers exist in the city, many of which top out over 1,000 feet, the tallest of which is Al-Faw Tower, rising to 1,775 feet. AFX Stock Exchange The Al-Faw Stock Exchange is one of two stock markets located in Iraqistan. AFX is the second largest in the country. The market opened in 2016. AFX provides a means for buyers and sellers to trade shares of stock in companies registered for public trading. It is open for trading Monday through Friday between 8:00am – 4:00pm, with the exception of holidays declared by the Exchange in advance and during Islamic prayer hours in which the market pauses activities for an hour. On the trading floor, the AFX trades in a continuous auction format, where traders can execute stock transactions on behalf of investors. They will gather around the appropriate post where a specialist broker, who is employed by an AFX member firm, acts as an auctioneer in an open outcry auction market environment to bring buyers and sellers together and to manage the actual auction. Port & Trade Industry Al-Faw's coast is lined with industrial ports, shipyards, trade ports and shipbuilding ports. Al-Faw is Iraqistan's primary trade port both in the Persian Gulf and nationwide. Previously used for the export of oil throughout 2013 to 2018, it now serves for exporting various manufactured goods including pharmaceuticals, biotechnology, household products and vehicles. It also contains shipyards for Iraqistan's growing shipbuilding industry which constructs trade and cargo vessels, cruiseliners and Iraqistan's own personal naval vessels. Category:Iraqistan (FWNG) Category:Settlements